State ex rel. Exchange Bank v. Board of Liquidators

Tho opinion of tho court was delivered -by

Manning, O. J.'

Tho relator holds ñvo bonds of one thousand dollars each, issued by tho State to the Baton Rouge, Grosse Teto, and Opelousas railroad in 1855, and purchased by him in 1872, which with their coupons ho desires to fund in tho consolidated bonds of the State. Tho exchange is to bo made at tho rate of sixty cents on tho dollar, under the funding act of 1874. To accomplish this he applied to the defendant. *265who refused to fund them, alleging that the act of May 17. 1875, had prohibited it until tho Supreme Court of this State had so ordered.…